Big finance is doubling down on crypto

As crypto sentiment is still in the “Extreme Fear” zone, and the talks of bear market multiply, one could easily give up to despair.

However, when one is a seasoned finance specialist, this might as well give a signal to double down on crypto.

Venture capital giant Andressen Horowitz, also known as #a16z, has recently announced its fourth (!) crypto fund, this time for $4.5 billion, with $3Bn for venture investments and $1.5Bn – for early seed projects in #Web3 gaming, DeFi, decentralized social media, DAOs and many other areas. A16z launched its first $300M crypto fund in the harshness of 2018’s crypto winter, and have since brought its overall crypto commitment to a whopping $7.6Bn.

J.P. Morgan bank, known for its love-hate relationship with crypto, now heavily inclines towards the “love” part, replacing real estate with crypto as its “preferred alternative asset class” in its last week’s report.

Fidelity, one of the world’ biggest asset managers, is about to hire over 100 specialists for its crypto-focused subsidiary, as the Wall Street Journal reported today.

In middle of difficulty lies opportunity ?